TechFlow news: New Zealand's Minister for Business, Andrew Bayly, said the country should support the development of the cryptocurrency industry and adopt an evidence-based approach to regulating the sector.
In his response to a parliamentary committee inquiry, which requires Cabinet approval, he stated that the government was responding to recommendations made by the Finance and Expenditure Committee in its report on the potential impacts and risks of the industry.
He wrote in the response: "I recommend that the government’s response indicate its desire to support the growth of the industry and its commitment to actively considering the recommendations raised in the inquiry. I also recommend the response note that the government will closely monitor international developments and take an evidence-based regulatory approach."
